Good Morning Friends,
Have a look on above chart, it is on hourly time frame. Market has convincing above 15900 but it was never be comfortable above 15940 levels. This gave a sense of caution, some was not convincing on Friday and here comes reason.
Reason may just be add. I learn from some News paper that Asian market is lower on Virus and Inflation concern. This is how technical works. It gave you no comfort first and then news hit.
Gap down is very likely. Support is it does not fill the gap then it will be named as "truncation".
It is will be willing to fill the gap then its opportunity. I will look for opportunity after gap down. May be near 15600 again..... not too sure but some formation may comes. If there will be no signal to buy from low then I will make a holiday.
Happy Trading,
Praveen Kumar
